# US dollar falls on dovish remarks by Fed's Powell

> The dollar fell on Friday after two days of gains, as Federal Reserve Chair Jerome Powell struck a cautious tone and said the risks of under- and over-tightening were more balanced. Rate futures priced a 64% chance of a cut by the March meeting, up from 43% the previous day.

- Date: 2023-11-30 · published 2023-11-30T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/32901-us-dollar-falls-on-dovish-remarks-by-fed-s-powell
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Powell's shift toward balanced risks raised expectations of easing, which weakens the dollar and can support dollar-priced agricultural commodities. The repricing of rate cut odds also affects financing costs for feed and livestock operations.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-10-19 | [Dollar dips on dovish Powell comments \| Reuters](https://feedsoft.ai/events/33814-dollar-dips-on-dovish-powell-comments-reuters.md) | -0.0% | -2.1% |
| DXY | 2024-09-30 | [US dollar trades near 14-month nadir before Powell's remarks](https://feedsoft.ai/events/28511-us-dollar-trades-near-14-month-nadir-before-powell-s-remarks.md) | +0.9% | +3.1% |
| DXY | 2023-02-01 | [Stocks rally, dollar slumps after Fed statement, Powell remarks \| Reuters](https://feedsoft.ai/events/37526-stocks-rally-dollar-slumps-after-fed-statement-powell-remarks-reuters.md) | +1.1% | +1.4% |
| DXY | 2025-02-11 | [Dollar falls as tariff concerns ease, Fed's Powell stays patient on rate cuts \| Reuters](https://feedsoft.ai/events/25966-dollar-falls-as-tariff-concerns-ease-fed-s-powell-stays-patient-on-rate-cuts.md) | -1.0% | -2.0% |
| DXY | 2023-12-14 | [US dollar sinks on Fed dovish pivot, setups on EUR/USD, USD/JPY, GBP/USD \| IG AE](https://feedsoft.ai/events/8714-us-dollar-sinks-on-fed-dovish-pivot-setups-on-eur-usd-usd-jpy-gbp-usd-ig-ae.md) | -1.3% | -1.3% |
| EURUSD | 2017-04-28 | [Euro falls against U.S. dollar on dovish ECB tone - Trending News](https://feedsoft.ai/events/71695-euro-falls-against-u-s-dollar-on-dovish-ecb-tone-trending-news.md) | +0.9% | +3.3% |
| EURUSD | 2023-03-15 | [Pound falls vs dollar, rises vs euro on bank woes](https://feedsoft.ai/events/10080-pound-falls-vs-dollar-rises-vs-euro-on-bank-woes.md) | +0.4% | +1.7% |
| EURUSD | 2022-06-29 | [Euro dives, dollar rises after Fed's Powell reaffirms hawkish stance](https://feedsoft.ai/events/41144-euro-dives-dollar-rises-after-fed-s-powell-reaffirms-hawkish-stance.md) | -3.4% | -4.0% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/eurozone-inflation-dents-euro-us-dollar-rises-three
- reuters.com: https://www.reuters.com/markets/currencies/dollar-eases-traders-weigh-rate-cut-prospects-2023-12-01/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.